Creo Medical Regulatory News (CREO)

CHINA REAL ESTATE OPPORTUNITIES PLC

Update on Proposed Asian Listing

Credit Approval secured for CC1 Refinance

China Real Estate Opportunities plc ("CREO" or the "Company"), is an AIM-listed company established to acquire investment and development properties in China.

In March 2010, the Company made a non-binding submission to Singapore Exchange Securities Trading Limited ("SGX") to secure approval for admission to Singapore's internationally recognised main board as a Business Trust so as to position the Company closer to its asset base and to potentially re-rate the shares in line with CREO's peer group listed in Asia. The proposed conversion to a Singapore Business Trust would be effected by way of a scheme of arrangement under Jersey law, which would be subject to the approval of both shareholders and the Jersey court, and a listing by introduction in Singapore. This will not involve the raising of fresh capital, but would also result in the Company being delisted from AIM.

The SGX has today confirmed its approval of a conditional "Eligibility to List" application for the listing of a Business Trust ("Treasury China Trust" or "TCT") on the Singapore main board, subject to the court-approved acquisition by this entity of 100% of the shares of CREO by way of a one for five swap for TCT units. The trading currency of the new units will be Singapore Dollars (SGD).

This will result in a total of 240,180,020 units being issued in exchange for the 48,036,004 CREO shares in issue currently. Based on the closing price of CREO shares on Friday 23 April 2009 of GBP4.46 per share, this will equate to a TCT price of SGD1.91 per unit.

A consultation process will now be undertaken with CREO shareholders and an Introductory Document, prepared for the purposes of the Singapore listing, is expected to be made available to shareholders in due course. Key attributes of this transaction are:

Ø The CREO corporate structure does not change other than by the insertion of Treasury China Trust as the new parent of the group

Ø Treasury Holdings Real Estate Pte. Limited, a Singapore domiciled entity and 100% subsidiary of the Treasury Holdings group, will be the appointed Trustee-Manager

Ø The board of the Trustee-Manager will comprise 7 Directors, the majority of whom (4) will be independent. 5 existing CREO Directors will be retained with a further 2 Singapore based Directors as required by SGX regulations

Ø TCT will position itself as a total return vehicle providing shareholder returns on a consistent basis sourced from net rental income, profits on strategic disposals and capital growth

Ø TCT proposes the payment of a SGD0.05 dividend distribution per unit for 2010, payable in March 2011. This equates to an annualized yield of 4.6% based on an assumed trading price of SGD1.88 per unit (equivalent to GBP4.40 per share based on a 1:5 swap)

Ø Distributions paid by TCT are exempt from Singapore tax

The Company is also pleased to announce that Industrial and Commercial Bank of China ("ICBC") has recently confirmed its credit approval of a USD480 million (multi-currency) facility for the refinance of the existing loan on the Company's City Center property and for the provision of 100% of the development costs including capitalised interest of the 61,800 square metre extension to City Center which the Company is developing. This new loan facility will replace the existing USD236 million and RMB820 million Credit Suisse facility (equivalent to £232 million), which is due to expire in October 2010. Local government authorities in Shanghai have approved the design for City Center Extension and the preparation of construction drawings is now underway ahead of an anticipated commencement of construction in Q3 of 2010.

In addition, following the recent disposal of the Tangdao Bay investment, the sales proceeds of GBP35.4m have been received by the Company.

Contact:

CREO

Ray Horney, Chairman

Tel: 07797 314 1596

Sarah Moriarty, Investor Relations

Tel: +353 1 6189455

Matrix Corporate CapitalPaul Fincham Tel +44 (0)20 3206 7000

Davy

Des Carville

Tel: +353 1 679 6363

Citigate Dewe Rogerson

Tom Baldock

Tel: + 44 (0) 20 7638 9571

Murray Consultants

Ed Micheau

Tel: + 3531 498 0300